Insight Holdings Group LLC Grows Stake in Procore Technologies, Inc. (NYSE:PCOR)

Insight Holdings Group LLC grew its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 899.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 168,900 shares of the company's stock after acquiring an additional 152,000 shares during the quarter. Procore Technologies comprises 0.3% of Insight Holdings Group LLC's investment portfolio, making the stock its 23rd biggest holding. Insight Holdings Group LLC owned about 0.12% of Procore Technologies worth $11,691,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Raymond James & Associates acquired a new stake in shares of Procore Technologies in the 3rd quarter valued at about $261,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Procore Technologies in the 3rd quarter valued at about $304,000. California Public Employees Retirement System boosted its position in shares of Procore Technologies by 31.8% in the 3rd quarter. California Public Employees Retirement System now owns 139,326 shares of the company's stock valued at $9,101,000 after purchasing an additional 33,590 shares during the period. Private Advisor Group LLC boosted its position in shares of Procore Technologies by 32.5% in the 3rd quarter. Private Advisor Group LLC now owns 4,374 shares of the company's stock valued at $286,000 after purchasing an additional 1,072 shares during the period. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of Procore Technologies in the 3rd quarter valued at about $7,328,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Procore Technologies Stock Performance

Shares of PCOR stock traded up $0.58 during trading hours on Friday, reaching $68.75. 773,781 shares of the company's stock were exchanged, compared to its average volume of 1,499,762. The company has a market cap of $10.06 billion, a P/E ratio of -71.61 and a beta of 0.78. The company's 50 day moving average is $73.51 and its two-hundred day moving average is $69.90. Procore Technologies, Inc. has a 1 year low of $48.11 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.61 and a quick ratio of 1.60.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.15. Procore Technologies had a negative return on equity of 8.25% and a negative net margin of 13.64%. The firm had revenue of $269.43 million during the quarter, compared to the consensus estimate of $263.13 million. Equities research analysts anticipate that Procore Technologies, Inc. will post -0.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PCOR has been the subject of a number of research analyst reports. Stifel Nicolaus upped their target price on Procore Technologies from $64.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, February 16th. DA Davidson reaffirmed a "buy" rating and set a $95.00 price objective on shares of Procore Technologies in a research report on Thursday, March 14th. JMP Securities increased their price objective on Procore Technologies from $81.00 to $93.00 and gave the stock a "market outperform" rating in a research report on Friday, February 16th. Barclays decreased their price objective on Procore Technologies from $83.00 to $78.00 and set an "overweight" rating for the company in a research report on Thursday, May 2nd. Finally, Mizuho decreased their price objective on Procore Technologies from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.79.

Insider Activity at Procore Technologies

In related news, SVP William Fred Fleming, Jr. sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $77.25, for a total value of $386,250.00. Following the completion of the transaction, the senior vice president now directly owns 74,521 shares of the company's stock, valued at approximately $5,756,747.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 5,000 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $77.25, for a total transaction of $386,250.00. Following the completion of the transaction, the senior vice president now owns 74,521 shares of the company's stock, valued at $5,756,747.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Craig F. Jr. Courtemanche sold 68,000 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $79.19, for a total value of $5,384,920.00. Following the transaction, the chief executive officer now directly owns 535,749 shares of the company's stock, valued at approximately $42,425,963.31. The disclosure for this sale can be found here. Insiders sold 473,740 shares of company stock valued at $36,515,188 in the last ninety days. Corporate insiders own 39.20% of the company's stock.

Procore Technologies Profile

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.

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